Stonecourt Capital LP has acquired hybrid data center services firm 365 Data Centers for an undisclosed sum. Original investors Lumerity Capital and Longboat Advisors have reinvested in the company as well, so will remain involved. The existing management team, including CEO Bob DeSantis, will remain in place.
Founded in 2017, 365 Data Centers has evolved from a colocation services company with eight data centers into a hybrid data center services provider operating 12 data centers with 230,000 square feet of space and 22 MW of available power. The data centers are located in Boca Raton, Bridgewater (New Jersey), Buffalo, Chicago, Commack (Long Island), Detroit, Fort Lauderdale, Indianapolis, Nashville, Philadelphia, New York City, and Tampa. The company also offers access to 21 other points of presence and more than 400 peering partners. 365 Data Centers says it serves more than 650 customers in the eastern U.S.
“We are pleased to welcome Stonecourt as a partner in 365 Data Centers,” said DeSantis, who is also a board member and investor in the company. “Stonecourt has a proven reputation of supporting growth businesses with financial and strategic resources, and we are excited to partner with them to foster the next phase of the Company’s expansion. The 365 team will remain fully intact, and this partnership will enhance our ability to execute on our organic and acquisition growth strategies. On behalf of the entire 365 team, I want to thank our outgoing investors, Chirisa Investments and Turning Rock Partners, and our outgoing board members Colm Piercy and Maggie Arvedlund, who have supported the company and me since the beginning.”
“We are very impressed by the portfolio of data center and fiber assets that Bob and the 365 team have successfully integrated,” added Lance Hirt, managing partner at Stonecourt. “The company’s blue-chip enterprise and carrier customer base creates a unique platform. We are excited to partner with Bob, Lumerity Capital, Longboat Advisors, and the 365 team to deploy significant additional capital to accelerate the company’s growth trajectory. We are already engaged on several near-term acquisition opportunities which will meaningfully enhance the company’s service offerings.”
The company already has made several acquisitions (see, for example, "365 Data Centers expands Florida data center footprint through Host.net acquisition," "365 Data Centers buys NYI-NJ data center via new funding," and "365 Data Centers buys Long Island data center").
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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